Waived: Wade Redden bought out (1/18: Signs with STL [$1M])

[Janerixon]

Gomez back to NJ...

 

[RGY]

Edmonton

San Jose

Edmonton. They need a veteran presence. That team is too young. He can be serviceable as a #6 for them.

 

[Bleed Ranger Blue]

Where do you guys think Redden will land?

Im not so sure he finds an NHL job. He hasnt been in the league in about 3 years now. Theres a lot of dust gathering on him.

Some team might take a flier. Maybe the Islanders considering their lack of defensemen and the Visnovsky cluster****.

 

[RangerBoy]

Told that Bost, Tor, Fla, Ott have expressed at least preliminary interest in Redden...

https://twitter.com/NYP_Brooksie/status/291280291752992768

 

[silverfish]

Best of luck to Wade wherever he catches on.

I'm still up for bringing Gomez back to NY

 

[Vitto79]

https://twitter.com/NYP_Brooksie/status/291280291752992768

He will get a cheap 1 yr deal and it will be a one way. Not much risk in a 48 game season. Good luck Wade, atleast he went down to CT and helped the kids like McD

I want to see who else is on waivers tommorow? Any other terrible contracts that were going to be burried in the minors anyway. Teams may as well just do it if they had no plans other than waiting till next yr

1 buyout down, only 1 more in the Rangers pocket.

 

[Trident61494]

https://twitter.com/NYP_Brooksie/status/291280291752992768

Why would FLA be interested if they Jovo & Kuba?

 

[tjs252]

Why would FLA be interested if they Jovo & Kuba?

Kulikov's up in the air.

 

[Cliffy1814]

good luck to wade....hope he gets a deal for minimum or something somewhere else....isles can use him.

Not crazy to think Redden winds up back in Ottawa (they are admittedly trying to trade for a veteran D), and Gomez back with Devils. Both on minimum deals since they are being paid handsomly to go away by their current teams.

 

[nyr2k2]

Ian Mendes ‏@ian_mendes
Have it on good authority that the Senators do not have any intention of signing Wade Redden at this point -- despite his history here.

https://twitter.com/ian_mendes/status/291281300353069056

 

[Clowes Line]

How is this a compliance buyout? We're still charged 2/3 of his cap hit over the remaining years of his deal.

 

[nyr2k2]

How is this a compliance buyout? We're still charged 2/3 of his cap hit over the remaining years of his deal.

We pay him 2/3 of the remainder spread out over however many years. The cap charge comes off the books after this season.

 

[BBKers]

How is this a compliance buyout? We're still charged 2/3 of his cap hit over the remaining years of his deal.

No
Charged $5,6 M this year
Next year the caphit is gone
4ever

 

[Jabroni]

We pay him 2/3 of the remainder spread out over however many years. The cap charge comes off the book after this season.

Was just going to post this.

We still have to pay Redden, or else that'd be a pretty big loophole.

 

[Clowes Line]

We pay him 2/3 of the remainder spread out over however many years. The cap charge comes off the books after this season.

Ah that makes sense.

**** yeah

 

[frozenrubber]

We pay him 2/3 of the remainder spread out over however many years. The cap charge comes off the books after this season.

@TSNBobMcKenzie: Sorry, my mistake on this year, player gets 100 per cent on buyout, not two thirds. No saving to club. My bad.

Teams would pay out 100 per cent of a player's actual salary this year and two-thirds or one-third (as applicable) over twice the remaining term of the contract and the player is free to sign elsewhere.

http://www.tsn.ca/nhl/story/?id=413602

Anyone using the compliance buy-out after this season (or next), the player will receive 2/3rd of their salary over twice the length (the 1/3 provision is for buying out younger players).

 

[Thirty One]

https://twitter.com/KatieStrangESPN/status/291286905331539968

#NYR Only benefit to NYR? Contract does not count against the 50 max limit on reserve list. Rangers were at 48, now at 47

46 by my count. She is probably including Miller, who should be subject to the slide rule if he doesn't play in 6 NHL games.

 

[nyr2k2]

Compliance buyouts are paid full amount remaining on the contract, but paid out over twice the term.

Thanks for clarifying.

Ah well, it's Dolan's money.

 

[Jabroni]

So, there's $10M left to pay Redden over 2 years.

Compliance buyout = 4 years?

So:

Y1: $2.5M
Y2: $2.5M
Y3: $2.5M
Y4: $2.5M

Is this correct?

 

[Stugots]

Gomez back to NJ...

I'd put money on it. Lou loves bringing back his guys.

As for Redden, any team seeking a vet to compete for their 3rd pairing would be interested in him. I'm not surprised by some of the teams I've seen who are interested in his services.

 

[CH2]

The contract will not count towards the 50 limit after it is bought out. This will give the Rangers a little wiggle room if they wanted to make a trade or bring in Fasth/Lindberg after their seasons are over.

 

[frozenrubber]

So, there's $10M left to pay Redden over 2 years.

Compliance buyout = 4 years?

So:

Y1: $2.5M
Y2: $2.5M
Y3: $2.5M
Y4: $2.5M

Is this correct?

For Redden, in real/actual salary (not cap hit), his contact is the following:

2012-2013: 5 million
2013-2014: 5 million

He will receive the full 5 million this year, they 2/3rds of the remaining 5 million over 2 years.

Wade Redden Contract Buy-Out:

2012-2013: 5 Million
2013-2014: 1.66 Million
2014-2015: 1.66 Million

 

[axleone]

SO Redden gets all his outrageous salary from us...we get full cap hit...Redden gets a new contract from some other team making him more money and then there is the chance he comes back this year to bite us in a game thanking us for this 'favor'. Very interesting!

 

[eco's bones]

Gomez ain't going back to the Devils. They hate him there now.

Anyone who wants to sign Redden is welcome to. You'd have to be a very desperate team though. That whole group of Redden, Gomez, Drury turned into liquid cow manure really fast.

 

[Inferno]

...prorated over the season though of course.